This hurts regular people far worse than the upper class that has spent 3+ years hording and acquiring assets. They're trying to fix inept government policy on the backs of the labour that allows the country to function rather than having the hording class pay a fair share to sustain society.
Property taxes should increase exponentially with each additional property you own. Double or triple for corporations. That will do a large part to fix our issues, but the government will only enact policies favourable to the landowners.